BMO Bank of Montreal has rolled out a new BMO CashBack World Elite MasterCard that offers a 1.75% base earn rate on all purchases.
The card has been designed for customers seeking to earn a high rate of return on all purchases, removing the need to track programs that base rewards earn rates on spending tiers, caps or retail categories.
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With this card, customers can earn $1.75 for every $100 spent as well as maintain track of their cashback earnings in all everyday spending categories.
The card will also provide benefits such as no additional charge for supplementary cards, roadside assistance worth $69 per year, included insurance as well as a two-year extended warranty and a 180-day purchase protection.
BMO Bank of Montreal North American Retail Payments managing director Nick Mastromarco said: "A BMO Cashback World Elite MasterCard customer who spends $3,500 per month on credit card purchases will earn $735 in cashback for the year – more than any other card, based on typical household spending."
Mastromarco added that the new card will be available for free to customers for the first year. However, it will charge an annual fee of $120 only after the first year.
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